El Paso Corp.’s decision early this year to cut spending in U.S. exploration and production (E&P) and focus more on South Texas, the deepwater Gulf of Mexico and coalbed methane (CBM) has proven to be a challenge for management as it figures out how to make the best with the least amount of money possible. Because its E&P has required a lot of cash, which is in short supply at El Paso, some analysts now suggest that the E&P unit could be spun off, sold or downsized by the end of 2004.
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Articles from Trigger
Davis Still Seeking $8.9 Billion in Refunds
Sounding more embittered and hair-trigger-happy with each passing press conference, California’s governor Tuesday continued to draw a line in the sand at $8.9 billion for power supplier refunds at the same time standing ready to negotiate with individual suppliers or small groups for portions of that amount in cash or future price discounts or power contract renegotiations.
July 12, 2001
Technical Blip, Weather Forecast Trigger Spike
The third time was a charm yesterday for bulls in the gas pit atNymex as locals and technical traders covered shorts en masse afterdiscovering a technical blip on their charts. After thrice testingand failing to develop beneath the $5.74 level Wednesday eveningand yesterday morning, the market rocketed Thursday afternoon, ledby a March contract that rumbled 67.3 cents higher to close at$6.38.
February 2, 2001
GRI: Storage Will Grow by Leaps and Bounds
Regulatory changes and steady growth in U.S. natural gasconsumption will trigger a 21% increase in storage capacity overthe next 15 years, according to a new study of gas storage by theGas Research Institute.
March 21, 2000
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